Bytecoin (Poloniex: BCNUSD) has broken out of the triangle pattern in the weekly chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, Bytecoin began a wave one advance in November 2014. The red wave one (blue sub-waves i-ii-iii-iv-v) finished in January 2018, and the red wave two (blue sub-waves a-b-c) correction ended in December 2018. If this wave count is correct, Bytecoin should be heading next towards the January 2018 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Bytecoin is a private, decentralized cryptocurrency with an open source code that allows everyone to take part in the network development of Bytecoin. Bytecoin network will be undergoing a hardfork in March 2019.
(Sources: Bytecoin and Bytecoin Hardfork)
If you think this analysis is correct, upvote this post (min $0.01) and upvote the comment (min $0.01) “Bytecoin will takeout the November 2018 peak”.
If you think this analysis is wrong, upvote this post (min $0.01) and upvote the comment (min $0.01) “Bytecoin will drop below the December 2018 low”.
If you think Bytecoin is in a range, upvote this post (min $0.01) and upvote the comment (min $0.01) “Bytecoin will stay in a trading range between the December 2018 low and the November 2018 peak until April 4”.
(Chart courtesy of Tradingview.com (log scale))
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